Wednesday, February 10, 2010

Two more of my recent Lending Club investment loans have been issued

In the past twenty four hours, two more of my recent investment loans with Lending Club have reached full funding and been issued. That make seven out of twelve in the batch, leaving five remaining to be fully funded. One is already at 74% funding. The rest are only at roughly 54% to 65% funding with about four to seven days left to be funded. That is actually okay and par for the course - I've gotten spoiled by the minority of loans which get funded very rapidly. After all, it has been less than a week since I placed orders for the batch. The only one I am a little worried about is at 58% with only four days left for funding, but even that one is probably okay.

All of the consumer loans in this batch have already been approved, with income verification, so that they will be issued as soon as they reach full funding (and the borrower provides a verified bank account for ACH transfers for payments.)

All Lending Club loans are for three years, with thirty six monthly payments which are made automatically via ACH transfer from the borrower's bank account.

-- Jack Krupansky


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